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Najarian Heat Seeker ID’s Two Hot Stocks

After the broadcast, Jon Najarian revealed two stocks that are front and center on his radar.

Pandora

The OptionMonster says his proprietary heat seeker has ID’d Pandora as a hot stock – with institutional investors looking for upside. “There been strong activity in the June 14 calls,” he says. Also, “calls outnumber puts by 6 to 1 ratio.”

The play is likely technical.

“Online music company Pandora Media only went public last June, but it's attempting to find support at its 100-day moving average and the bulls are taking notice,” Najarian says.

Canadian Pacific

“The bulls went north with Canadian Pacific Railway,” says Najarian with a chuckle and a grin. “Heat Seeker shows the purchase of almost 4,000 June 75 in-the-money calls."

Also, Najarian tells us, “calls outnumber puts by 50 to 1.”

Although the Option Monster thinks there could be many motivations for the trade, he thinks the most likely is as a play on increasing gas prices.

“Higher prices at the pump make it incrementally more expensive to transport goods by truck. That’s good for trains.”

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Trader disclosure: On Mar 1, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Grasso is long (ASTM); Grasso is long (AVAV); Grasso is long (BA); Grasso is long (D); Grasso is long (FIO); Grasso is long (LIT); Grasso is long (MHY); Grasso is long (NUAN); Grasso is long (MO); Grasso is long (PFE); Grasso is long (PRST); Grasso is long (RIG); Grasso is long (S); Grasso is long (XLU); Weiss is long (QCOM); Weiss is long (M); Weiss is long (EUO); Weiss is long (TBF); Weiss is long (BRCM); Weiss is long (SNDK); Weiss is long (JPM); Weiss is long (SODA); Weiss is short (JCP); Weiss is short (KSS); Weiss is short (MT)

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